Know about market updates
Property sales to foreigners in Turkey continued to rise in August, as a total of 1,684 houses were sold to foreign nationals with an 11.4 percent year-on-year increase, official data showed on Sept. 25. Iraqis were again the top buyers with 317 units in August, followed by Saudi Arabians with 198 units, Kuwaitis with 135…
Saudi Gazette report ANKARA — The Kingdom’s embassy in Ankara has called on Saudi citizens, who are facing problems arising out of investment in real estate sector in Turkey, to contact the embassy for better understanding of the legal procedures involved and authenticity of the firms working in the sector. The objective is to protect the…
How many types of work permits (Calisma Izni) are in Turkey? There are four different work permits for foreigners in Turkey: Work Permit for a Definite Period: In accordance with the International Labour Law No 6735 which came into force after being published on the Official Gazette dated 13.08.2016 and No 29800; work permit shall be granted to the…
The Turkish government will soon issue a decision to reduce the amount of real estate property that is nominated for Turkish citizenship to $300,000 after the $ 1 million. But before going into the details. Let’s clarify what the current law is and how it will be after this decision? The decision of ownership and get Turkish citizenship between 2017 and…
A standard Turkish Tourist Permit now allows you to stay in Turkey for no longer than 90 days in any 180-day period. Most nationals obtain these entry visas upon arrival at Turkish airports (cost Euro 15). Please also refer to https://www.evisa.gov.tr/en/ for online Turkish visa applications. This means expats – or those who simply wish to stay…
Since the subject matter of this news is tax treatment of income derived from the rental of immovable properties and rights in Turkey by limited liable taxpayers (non-residents), it is wiser to confine the scope of the article solely to the definitions made in Turkish Personal Income Tax Law with regard to tax liability and…
The results of Knight Frank’s “Global House Price Index” study have been announced. The countries where property prices have increased the most in order are: Iceland (17.8 percent), Hong Kong (14.4 percent), New Zealand (13.8 percent), Canada (13.5 percent), Turkey (13.3 percent), Malta (12.6 percent), Czech Republic (11.5 percent), Estonia (10.7 percent) and Hungary (10.5 percent)….
Turkey has changed its law to offer citizenship to foreigners who buy property worth at least $1m in the country. The decree on the changes published in Turkey’s Official Gazette on Thursday also grants citizenship to foreigners who make a fixed capital investment of at least $2m, keep at least $3m in a bank account…
Legal Background The Regulation on the Law on Applications for Turkish Citizenship (“Regulation”) has been published on Official Gazette dated 12.01.2017 and numbered 29946. According to the amendment, a foreign investor who meets certain conditions mentioned under the provisions added to the Regulation can obtain Turkish Citizenship. Besides the Regulation, Land Registry Code also stipulates…
Turkish Statistical Institute (TUIK) announced growth figures for the first quarter of 2017. Accordingly, in the first three months of this year, Turkey’s economy grew by 5.00 percent. While the industrial sector grew by 5.3 percent, the growth rate in the construction sector was 3.7 percent. The rate was 4.5 percent in the same period…
Owning a home is a keystone of wealth… both financial affluence and emotional security.